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Totalitarian Trend Feared by Bankers in the US
President Emmett F. Connely warned the Investment Bankers Association of America about a trend toward a socialist totalitarian economy. He traced the pattern from Russia in 1917 to Europe and now to the United States, noting governments tax saving and bond private enterprise to state control. He criticized supporters of a new order and urged respect for American institutions amid compulsory bidding rules.
MENTIONED IN THIS ARTICLE
Hollywood Beach
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Emmett FE. Connely
Investment Bankers’ Association of America
Russia
Europe
United States
Hock
Gome
Connely
Securities and Exchange Commission